Some of Europe’s biggest fund managers have confirmed they
are dumping euro assets amid rising fears over a possible Greek exit from the
eurozone and single currency turmoil, the Financial Times writes.
The euro’s sudden fall this month caught many investors by
surprise. Europe’s single currency has lost 5 percent in the past three weeks
after barely moving against the U.S. dollar for much of the year. On Thursday,
the euro hit a fresh 22-month low at $1.2514.
Amundi, Europe’s second-biggest private fund manager, and
Threadneedle Investments, the big UK manager, have cut their exposure to the
euro in recent days as frustration grows with political leaders’ efforts to
resolve the crisis...
Read all about it at http://www.cnbc.com/id/47561015
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